Smart infra: Modi govt’s Delhi-Mumbai industrial corridor SPV+ Telangana search for foreign partners

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Smart infra: Modi govt’s Delhi-Mumbai industrial corridor SPV+ Telangana search for foreign partners

Unknown   11:37

The corporation has already held talks with technical partners in Hong Kong, Taiwan, Germany and Sweden, before it floats an RFQ in June to select partners.

The corporation has already held talks with technical partners in Hong Kong, Taiwan, Germany and Sweden, before it floats an RFQ (request for quotation) in June to select partners for specific projects. (Reuters) (FIile Photo)

The Indian government’s newly formed SPV Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC) has started scouting for foreign partners in a bid to converge next generation technologies across infrastructure sectors.

The corporation has already held talks with technical partners in Hong Kong, Taiwan, Germany and Sweden, before it floats an RFQ (request for quotation) in June to select partners for specific projects. Following the RFQ, the DMICDC would appoint a transaction adviser to finalise a detailed project report and select partners.

While visiting the Volvo Experience Center at Gothenburg in Sweden recently, DMICDC CEO and managing director Alkesh K Sharma told FE that there were opportunities in developing electric and hybrid energy based transportation in the newly conceived eight smart cities across the Delhi-Mumbai Industrial Corridor, and generating hybrid energy with a mix of solar, biogas, wind and tidal was also a possibility. Such hybrid energy could be transmitted through micro and mini grids in the residential zones of smart cities and DMICDC was weighing those options, he added.

European companies like FOB Biogas, PPAM Solarcraft and Team Maksus were already running mini and micro grid pilot projects with hybrid power in the Andaman and Nicobar Islands. Volvo has already introduced hybrid and mini buses for the European market. The Indian smart cities could be another market for them if DMICDC agreed to incorporate infrastructure for running hi-tech vehicles. “We will incorporate facilities in our trunk infrastructure to run electric and hybrid buses in the smart cities,” Sharma said after meeting Haken Agnevall, president, Volvo Bus Corporation. MG Gopal, special chief secretary in the Telangana government, who also visited Volvo’s Gothenburg experience center, said there were opportunities to create hi-tech infrastructure in Telangana since the government there would have to start most of the things from scratch.

Sharma said the first phase of developing a smart city and investment region at Dholera in Gujarat was in the offing, entailing an investment of `40,000 crore. The investment would be basically used for creating trunk infrastructure,” Sharma said, adding that the project work would take off through first constructing a `2,300-crore international airport followed by a complete aerotropolis project.

He said DMICDC would source funds from infrastructure financing companies like IFCL and HUDCO. The corporation would also issue land and infra bonds to raise money.

“We are looking at the time frame between now and 2030 and there will be a point of time when we will run into deficit financing. So, we will have to work out a mix of financing options like sovereign funds and external commercial borrowings. But all such financing options will be used for funding the entire $100-billion project which would comprise trunk infrastructure for eight smart city projects across the entire Delhi–Mumbai Industrial Corridor,” Sharma said.Find Properties in 60Sec.

Although Japan government is partnering with the government of India in implementing the project, DMICDC will keep options flexible for participation of foreign partners. “We can make outright offer of land, it can be a leasing model depending on the type of financing the developer is looking at. Even DMICDC can give a hand-holding support to a technological partner by picking up majority stake in certain trunk infrastructure projects,” he added.

At an interactive session with investors at Gothenburg organised by India Unlimited, an initiative of the Indian embassy in Sweden, Telangana special chief secretary Gopal said, in case of selecting technological partners, the Telangana government under its Industries Development Enabling Act can depart from the traditional route of competitive bidding and adopt a process of reverse bidding for unsolicited proposal. “In case the initial proponent matches the best price proposal in the reverse bidding, the initial proponent will be roped in as the qualified bidder,” he said, adding that industrial projects can be started at Telangana through self-certification and online application, which gets clearance in 15 days.

Meanwhile, Akash Passey, Volvo Buses’ vice-president-Business Region International, said Volvo would start exporting India-made buses to Europe this year, initially on a small scale to a select few countries. Earlier, Volvo announced its plan to export India-made buses to Europe in 2015.

(Travel for this report was sponsored by India Unlimited, an initiative of the Indian embassy in Sweden)

Can a will be written on a Rs. 5 stamp paper?

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Can a will be written on a Rs. 5 stamp paper?

Unknown   11:31

My father died recently leaving behind a will. The will is written on an Rs 5 stamp paper and is duly signed by my father. The will has both the signature as well as thumb expression of my father but it is not registered. I want to know if a will written on an Rs 5 stamp paper can be considered as a valid will?

- Sameer Gupta

It is not mandatory to register a will as per the Indian Registration Act, 1908. An unregistered will is a valid legal instrument if it has been duly executed as per the requirements under Indian Succession Act, 1925.I own a plot of residential land on which I have constructed three units on different floors. I have retained the ground floor and am planning to sell the other two units. Now, the buyer of one of the units is insisting on keeping the original sale deed which was executed in my favor by the previous owner for the whole plot of land. Can he do so?

– Vibhuti Taneja

Since you (being the seller) have retained a part of the property you are entitled to retain the documents of title relating to the property.We are a Hindu family and my father is an adopted child of my grandparents. My father inherited property from my grandfather (self-acquired property) by virtue of my grandfather’s will. My father often threatens to will the property to his relatives and not to my mother, me or my sisters. Can my father legally do that?

- Gautam Tripathi

As your father is the absolute owner of the property in question, he is well within his right to deal with the property in any manner he deems fit and proper.I have a house on a plot of land measuring 300 square yards in Greater Kailash, New Delhi. I want to reconstruct a new residential building on it with a stilt area, ground floor, first floor and second floor. Can you guide me on the maximum permissible FAR in Delhi with respect to the same? Also, please clarify whether the stilt area would be included in the FAR or not?

- Harsh Sharma

As per the norms laid out in the Master Plan for Delhi 2021, maximum permissible FAR for a residential plot having an area of 300 square meters is 225. If the building is constructed with stilt area of non-habitable height (less than 2.4m) and used for parking, such stilt area shall not be included in FAR. However, though such stilt area is not included in FAR but it would be factored in to calculate the height of the building. 

Taken from: Hindustan Times | Image Source:(iStock)

India Embracing Green Tech in a Big Way

green tech

India Embracing Green Tech in a Big Way

Unknown   17:10

A green building is one which uses less water, optimizes energy efficiency, conserves natural resources and provides healthier spaces. The green building concept is gaining popularity in the corporate, institutional and residential sectors where an increasing number of stakeholders acknowledge the benefits of green design and technology in the construction of buildings.

Green buildings promise well ventilated working and residential space with three sides open units and well planned parks along with provision for solar lighting for street lights.  Green building practices aim to reduce the environmental impact of building. Green buildings use a variety of environment friendly techniques to reduce their impact on the environment. The main benefit of building green is reducing a building's impact on the environment.

Green Tech in Real Estate

Using green building techniques can also reduce the costs associated with construction and operation of a building. Sometimes, reclaimed building materials can be cheaper than fresh lumber , which further reduces the overall construction cost. The materials used in green buildings are generally the ones which come from the forests which are rapidly renewable. Realty projects incorporating alternate sources of energy can go a long way in stemming the depletion of resources. Many realty majors are ready to fulfill the aspirations of today's buyers, who are not just looking at price points but are also looking at quality projects that are built using environment friendly products. The NCR regions are transforming into a promising market with better infrastructure. India is emerging as one of the rapid adopters of sustainable building practices.

The main objective of the green projects being developed is to create energy efficient, water efficient, comfortable and a healthy environment for the people to live in. These projects offer well designed homes with the best amenities. Customers now have the opportunity to own a home in certified green townships. A number of realty majors like DLF, Ansal API, Ambiance Group, SARE Homes, EMAAR MGF, Earth Infrastructure, etc have launched green rated residential and commercial projects in the NCR, especially in Noida-Greater Noida and Gurgaon.